Sri Mulyani Says Developing Countries Can Lead

Nusa Dua, Bali. Developing countries could provide solutions to the economic problems now faced by the global community, World Bank managing director Sri Mulyani Indrawati said on Tuesday.

Speaking at the High Level United Nations Conference on South-South Cooperation in Bali, the former Indonesian finance minister told representatives from 46 countries that many states in the developing world had already overcome significant obstacles themselves.

“Many developing countries have been able to solve their developmental problems,” she said.

While developed countries like those in Europe have been facing economic woes, countries in the South-South bloc, especially in Asia and Latin America, have withstood the global downturn and become the world’s prime source of growth.

Vice President Boediono, who spoke at the opening of the forum, said the conference should foster economic development among South-South conference member countries.

Speaking after Boediono, National Development Planning Minister Armida Alishajbana said Indonesia could share its experience in the sectors of development, democracy, government administration, peace development, macroeconomics and financial management.

Armida said people considered Indonesia a success in economic development and in poverty elimination. Indonesia had moved beyond “middle-income” status to “emerging market” status, she added.

Ajay Chhibber, an assistant to the UN secretary general, said that developing countries could share knowledge and ideas to come up with relevant solutions for one another.

“More cooperation and experience-sharing from developing countries can have good effects and improve the effectiveness of development,” said Chhiber, who is also director of the UNDP’s regional bureau for Asia and the Pacific.

Sri Mulyani agreed that cooperation and the sharing of experiences were key for coping with global problems.

“Indonesia, for instance, already has a national policy to develop South-South cooperation,” she said.

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